All articles by Bob McGee – Page 11
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ArticleGarmin's operating income drops in Q4, targets $5 billion for FY23
Positive currency effects of more than $44.5 million helped Garmin report a 2.5 percent increase in Q4 net income to $293.3 million from $286.1 million. Operating income decreased 15 percent to $267.2 million for the period ended Dec. 31, but gross margin improved to 57.0 percent from 55.5 percent. Total ...
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ArticleWolverine Worldwide forecasts significant increase in profits in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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ArticleDirect, international drive Yeti in Q4
Yeti’s results were negatively impacted by voluntary recalls of certain soft coolers and dry gear bags for the period ended Dec. 31. Fourth quarter sales rose by 1 percent to $448.0 million from $443.1 million but were up 10 percent year-over-year to $486.4 million excluding impacts from the recalls. Direct-to-consumer ...
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News briefsPolygiene Group restructure, reports Q4 operating loss
Polygiene Group recorded a net loss of 5.1 million Swedish krona (-€480,000) against a profit of SEK 39.0 million (€3.9m) for the period ended Dec. 31. Ebitda came in at SEK 1.9 million, excluding an inventory adjustment, restructuring costs, and expenses related to the acquisition of Biomaster and ending a ...
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News briefsHelly Hansen revenues increase by 21% in 2022
Annual revenues for Helly Hansen, the Norwegian outdoor brand owned by Canadian Tire, were C$781.2 million (€571.1m) versus C$644.9 million. An estimated 91 percent of Helly Hansen’s sales total, or C$710.7 million (€519.6m), was generated in markets outside of Canada. That represented a 20 percent year-over-year increase. Meanwhile, Canadian Tire ...
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News briefsKMD reports H1 sales on improving trends
KMD Brands Limited – the New Zealand-based global outdoor, lifestyle and sports company that includes the Kathmandu, Rip Curl and Oboz brands – citing continued sales momentum in Q2, reported record H1 group sales of NZ$546 million (€322.6m) for the six months ended Jan. 31. According to the company’s preliminary ...
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News briefsRevolutionRace sales up 30% in Q2
Under new CEO Paul Fischbein, RVRC Holding generated record quarterly sales of 509 million kroner (€46.5m) against SEK 392 million for the second quarter ended Dec. 31. Adjusted EBIT was flat at SEK 117 million (€10.7m) as gross profit contracted to 70.7 percent from 71.4 percent. EBIT margin came in ...
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News briefsNewell Brands’ outdoor & recreation segment widens Q4 loss
The business unit, which includes CampingGaz, Coleman, Marmot and Ex-Officio, recorded a $14 million operating loss against a loss of $1 million for the period ended Dec. 31. Total segment sales fell by 21 percent to $211 million from $304 million because of unfavorable currency conversion impact and the exit ...
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ArticleJohnson Outdoors sees improving supply availability in fishing
Johnson Outdoors has reported mixed first-quarter results, with improving sales trends in fishing and diving and declines in camping and watercraft, but higher-cost inventory continues to press on margins. The group, while uncertain how the spring season will evolve, intends to monitor demand and proactively manage inventory levels as the ...
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ArticleVista Outdoor net income dips 45% in Q3
Vista Outdoor, the group that owns 41 sporting and outdoor brands, saw its Q3 net income fall by 45 percent to $65.1 million from $118.1 million for the third quarter ending Dec. 25. Reported earnings before interest and taxes (EBIT) declined by 38.8 percent to $97.3 million. Earnings before interest, ...
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News briefsBlack Diamond names new brand president
Clarus Corp. has appointed industry veteran Neil Fiske as brand president of Black Diamond Equipment Ltd., where he will be responsible for accelerating growth and lifting the profitability of BD by capitalizing on attractive expansion opportunities across various categories, channels and regions. A CEO for nearly two decades, Fiske ...
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News briefsRVRC generates Q2 sales growth in all regions
RevolutionRace (RVRC), the Swedish outdoor DTC company, reported a 10 percent drop in second-quarter operating income to Swedish kroner 105 million (€9.6m) from SEK 117 million that was impacted by one-time incentive program costs of SEK 12 million (€1.1m) and advertising expenses. Ebit without the incentive cost was flat for ...
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News briefsNewell Brands sets restructuring plan, 13% of workforce lose jobs
Newell Brands, the consumer goods company that features Marmot, Coleman, Campingaz and Contigo in its portfolio of brands, is consolidating its five operating segments into three and eliminating approximately 13 percent of its office workforce headcount this year. The total cost of the actions is pegged at $100 to $130 ...
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ArticleSolo Brands eyes deeper assortments with wholesale partners
The publicly traded Grapevine, TX company, which owns four businesses led by its Solo Stove unit, has a Direct-To-Consumer to Wholesale ratio of 85 to 15, a percentage that is likely to persist given Solo’s extreme focus on its relationship with customers. But Solo has a new partnership with warehouse ...
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ArticleWeyco Group says Forsake brand will gain traction in 2023
Weyco Group sees Forsake, the waterproof boot and sneaker brand it acquired for $2.5 million in June 2021, beginning to grow next year with a strategy that is currently in development. The brand targets 25- to 40-year-old consumers split evenly between men and women and focused on adventure enthusiasts. In ...
